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Grand Island

Current Mortgage Rates in Grand Island, Nebraska

Compare mortgage rates and fees for leading lenders in Grand Island, NE. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Grand Island.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Grand Island. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Grand Island, NE as of August 9, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Grand Island, NE Mortgage Rates Compare?

August 9, 2020

The current average rate for a 30 year fixed rate mortgage in Grand Island is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Grand Island, NE Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Grand Island, Nebraska?

Below we provide helpful information on the real estate market, home prices and housing affordability in Grand Island. Understand how much you need to earn to afford a home in Grand Island, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Grand Island fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Grand Island is right for you.

The median home value for Grand Island, NE (Hall County) is $156,006

Based on current mortgage rates and a 10% down payment, you need to make $28,077 per year to buy the median priced home in Grand Island

With this income, you could qualify for a $140,405 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Grand Island is $650

The median household income for Grand Island, NE (Hall County) is $56,747

Based on this income, you can afford a home valued at approximately $315,307

The home price you can afford to buy based on household income in Grand Island is 202% of the median home value which means housing prices are affordable. Grand Island (Hall County) ranks 88 out of 93 counties in Nebraska and 1,529 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Grand Island, NE is affordable

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Loan Limits for Grand Island, Nebraska

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Grand Island (Hall County) below.

Conforming loan limits for Grand Island, NE

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Grand Island, NE

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Grand Island, NE

1 unit: $510,400

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